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Kerry Group has agreed to sell its sweet ingredients portfolio to private equity major Advent International for $538m.

Kerry, whose ingredients are consumed by more than a billion people worldwide, claimed that the sale would aid in the improvement of its core taste and nutrition business, which it recently strengthened through a number of more technologically oriented acquisitions. 

 

Advent, which would purchase the production facility for sweets and cereals through its IRCA portfolio firm, stated that it aimed to combine it with IRCA’s current portfolio to establish a market leader in semi-finished food ingredients with around 1 billion euros in annual revenue. 

One of the biggest and most seasoned international private equity investors is Advent International,

 

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